Protecting business-critical data from cyber-attacks.
Since the onset of COVID-19, cyber threat monitoring and law agencies have been running in circles, posting alerts regularly, and tracking criminalists. And worst, companies are falling victim. These actions remind us how vulnerable businesses remain to cyber-attacks—also, the challenges they face with regularly executing security-related best practices. Every business is prone to an attack and should seriously consider designing a comprehensive cybersecurity plan for employees and firm-wide.
Cybersecurity Infrastructure & Security Agency - Alerts
“…because at the end of the day what is important is your data. Your monitor, CPU, or memory can be replaced, but the data on your disk storage is irreplaceable and business-critical.”- Pravin Khanolkar, CEO of DbCom
How can you lose your data?
There are several reasons for any industry to lose its sensitive and critical data suddenly; environmental disasters, disk crashes, corruption, or “human error .” Cyber attacks in any form, regardless of the reason, such as Ransomware, Malware, or Viruses, can create havoc and completely paralyze an entire business. The key to avoiding a chaotic response is to be proactive.
Just how dangerous is data loss to your business?
Loss of business-critical data, for some business recovery, may be impossible.
Loss of money as some businesses must pay off these cybercriminals and the remedial work required to recover from these attacks.
Loss of time. As the saying goes, “time is money,” downtime or, worse, shutting down your business can be detrimental, if not devastating.
Loss of reputation. Your business name is on the line. Whether your business is related to government, medical, or financial industries -clients trust your deliveries highly.
Challenges to protecting critical data
Experts agree that the best method to defend against data loss from ANY failure is to place it in a format that cannot be rewritten again, in other words, in WORM (write-once-read-many) format. Although this solution is the best practical solution for protecting your data, it has its challenges.
The amount of data stored may require changes in the media.
The daily manual process of tracking timings and media.
Data at rest is secured with an appropriate level of encryption.
The high cost of cumbersome manual operational processes.
What is the solution?
Planning is the BEST solution: migrating data to WORM format and automating the entire process. Using a D3P (Designated Third Party) vendor as DbCom-EQube, with its WORM data storage solution, addresses regulatory requirements and protects client-critical data from sudden loss. EQube's WORM uses double encryption and indexing of data, which helps relieve businesses of the high burden of always preparing for unplanned sporadic attacks and questioning whether security measures currently in place are enough protection.
Next, re-access and practice your cybersecurity plan regularly -at least every quarter. Practice can involve a round table or firm-wide simulations. Involve all departments and senior management in the plan and ensure it is detailed. This will help you be proactive and ready when your company becomes the next target.
Cyber Crime statistics:
FinTech News - 2020 Cybersecurity stats
Post updated by Sandra Richardson, Client Relations & Marketing at DbCom. Reach out to me at lisandra.richardson@dbcomsys.com